JSBL records profit of over Rs13bn, sees 29% growth
MG News | March 03, 2025 at 09:12 AM GMT+05:00
March 03, 2025 (MLN): JS Bank Limited (PSX: JSBL) posted a consolidated profit of Rs13.36 billion for the year ended December 31, 2024, reflecting a 28.75% increase from Rs10.37bn recorded in the previous year.
However, the earnings per share (EPS) declined by 16.17% to Rs5.03 from Rs6.
The bank’s profit growth was driven by an 87.18% surge in net mark-up/interest income, which reached Rs73.96bn compared to Rs39.51bn last year.
This increase was supported by a 67.76% rise in mark-up/interest earned, amounting to Rs221.45bn.
Meanwhile, non-markup income also contributed, rising by 23.34% to Rs16.28bn, mainly due to a 288.64% increase in gains on securities.
On the expense side, non-markup expenses grew significantly by 66.19% to Rs52.15bn, driven by a 65.81% rise in operating expenses and a 99.42% jump in the Workers' Welfare Fund contributions.
The bank also recorded a 23.15% increase in credit loss allowances, amounting to Rs7.41bn.
Taxation expenses more than doubled, increasing by 108.63% to Rs17.31bn, which impacted the overall profitability.
The bank’s profit before tax stood at Rs30.68bn, up 64.25% year-on-year.
A notable rise was seen in the contribution from non-controlling interest, which surged by 232.98% to Rs3.05bn.
Meanwhile, profit attributable to equity holders of the bank increased modestly by 8.97% to Rs10.30bn.
| Consolidated Profit and Loss For The Year Ended December 31, 2024 Rupees ('000) | |||
| Description | Dec-24 | Dec-23 | %Change |
| Mark-up / Return / Interest / Profit Earned | 221,453,179 | 132,009,866 | 67.76% |
| Mark-up / Return / Interest / Profit Expensed | 147,488,285 | 92,495,086 | 59.46% |
| Net Mark-up / Interest / Profit | 73,964,894 | 39,514,781 | 87.18% |
| Non Mark-up / Interest Income | |||
| Fee and Commission Income | 8,982,540 | 5,927,547 | 49.85% |
| Dividend Income | 451,838 | 482,582 | -6.37% |
| Foreign Exchange Income | 4,269,745 | 5,872,014 | -27.29% |
| Income / (Loss) from Derivatives | 24,937 | (16,426) | -251.81% |
| Gain on Securities - Net | 1,495,426 | 384,782 | 288.64% |
| Net Gains / (Losses) on Derecognition of Financial Assets Measured at Amortised Cost | - | - | |
| Share of Profit / (Loss) of Associates | 409,539 | (60,843) | -773.11% |
| Other Income | 288,387 | 605,011 | -52.33% |
| Total Non Mark-up / Interest Income | 16,282,912 | 13,201,867 | 23.34% |
| Total Income | 90,247,806 | 52,716,648 | 71.19% |
| Non Mark-up / Interest Expenses | |||
| Operating Expenses | 51,350,253 | 30,969,655 | 65.81% |
| Workers' Welfare Fund | 659,542 | 330,734 | 99.42% |
| Other Charges | 134,606 | 81,686 | 64.78% |
| Total Non Mark-up / Interest Expenses | 52,154,401 | 31,381,866 | 66.19% |
| Profit Before Credit Loss Allowance | 38,093,405 | 21,334,782 | 78.55% |
| Credit Loss Allowance and Write-offs - Net | 7,414,240 | 6,020,259 | 23.15% |
| Bargain Purchase Gain on Acquisition of Subsidiary | - | 3,363,805 | |
| Profit Before Taxation | 30,679,165 | 18,678,328 | 64.25% |
| Taxation | 17,319,093 | 8,301,497 | 108.63% |
| Profit After Taxation | 13,360,072 | 10,376,831 | 28.75% |
| Attributable To: | |||
| Equity Holders of the Bank | 10,309,369 | 9,460,639 | 8.97% |
| Non-controlling Interest | 3,050,703 | 916,195 | 232.98% |
| Total Profit After Taxation | 13,360,072 | 10,376,831 | 28.75% |
| Earnings Per Share - Basic and Diluted | 5.03 | 6 | -16.17% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 171,725.29 261.56M | 2.31% 3881.05 |
| ALLSHR | 103,214.49 498.64M | 2.00% 2024.02 |
| KSE30 | 51,517.14 135.33M | 2.40% 1209.13 |
| KMI30 | 246,565.71 111.44M | 2.29% 5524.54 |
| KMIALLSHR | 67,042.77 274.55M | 1.94% 1273.86 |
| BKTi | 47,299.71 43.26M | 3.04% 1394.54 |
| OGTi | 36,341.37 10.64M | 2.20% 783.44 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 76,920.00 | 77,935.00 76,105.00 | 1145.00 1.51% |
| BRENT CRUDE | 98.06 | 98.88 97.12 | 1.92 2.00% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -8.75 -7.37% |
| ROTTERDAM COAL MONTHLY | 113.00 | 0.00 0.00 | 0.30 0.27% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 91.55 | 93.90 89.41 | -5.05 -5.23% |
| SUGAR #11 WORLD | 14.68 | 0.00 0.00 | -0.02 -0.14% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|